Traders spend majority of their time on different exchanges. A particular exchange may have the deepest levels of liquidity for major currencies, while another may have the altcoins, and third one may be suitable according to the fee structure. Thus, there is a mess created where every time a trader has four tabs open and he doesn’t actually know what he has in real. Having a single view of your portfolio can help to solve such a problem as BuyCrypt also gives the possibility to perform practice on profit making trades without putting real cash into play. BuyCrypt is not an exchange but rather a simulated games platform.
It is common practice when you have an empty portfolio you open an account with one venue where you make initial purchases. Next you may consider to use the second one because the coin you want is not available there, so you open a third - to use lower fees, fourth - because it has better spreads for perpetual contracts. In a year, you will have your portfolio spread across several logins.
Each venue has something that other has no. It happens because particular exchange has some specific advantages, such as depth of order book for different pairs, market order execution speed. Of course, such actions are logical and in place, but they prevent the trader from having a clear perception of his status.
When saying linking several exchanges in one trading app, there are two different definitions of what this terminal should contain. The first one - balances, i.e. how much you have on given exchange and where are all your orders. The second - open and historical orders. A really good terminal should collect and show this information at the same time from all exchanges in the specific dashboard.
On top layer there is layer for performing actions. Linking multiple venues provides an ability to do everything from single screen independently from where the order will be executed.
Thus, the main difference would be - terminal is just portfolio layer above the exchange, and there is still an exchange that stores assets, conducts trades.
BuyCrypt was developed exactly on this model of terminal. The terminal presents 10 exchanges via a single interface - and the interface has identical look and working principles across all platforms including web version.
Although, it should be emphasized that BuyCrypt is not an exchange and it does not have any connection to selling or storing cryptocurrencies. It is just portfolio layer which reads exchange market data and provides a platform for playing in tournaments. The same interface might be used on both physical and simulation level.
The difference is that BuyCrypt has a special mode for both activities, and a lot of people mix them. The first one - it is a competition, you are using a demo balance and it is not affecting your wallet, but it is really possible to win cash prizes. The same mode is applicable for real trading.
Main feature would be that gamers should separate these modes.
First of all, downloading BuyCrypt on the latest update is necessary - for mobile or web version you can choose yourself. The next step would be defining what trading pairs will be settled via this terminal.
Next, you should understand how exactly you will be using the terminal to earn some cash or just to learn how to use it properly.
One Terminal Will Only Be as Good as the Results It Has Already Generated in a Live Environment, and the One on BuyCrypt Is Not a Marketing-Scheme Demo. This Terminal Has Been Used to Run 48 Tournaments and Power 127 Funded Accounts at a Regular Rate of Approximately 54 a Week. The Consolidation, Order Flow, and Live Data Features You Will Use to Monitor Your Venues Are the Actual Same Systems Used to Provide Competitive Play and Funded Records (Track).
This Shared Background Is Important for a Middle-of-the-Funnel Decision Because It Means That the Environment to Practice Will Be Authentic (In Other Words, The Skills Acquired During a Free Tournament, Or While Progressing from a $5 (Or Free, Via 'The Ladder') Up to a Funded Account with an 80 Percent Profit Split) Are Built Using Actual Infrastructure (And Not a Sandbox Environment). Payouts on This Track, for Instance, Have Been Verified On-Chain and Have Amounted to $384,000 to Date.
None of the Above Guarantees Results — Trading Outcomes Depend on Skill and Market Situations, and BuyCrypt Is a Simulated, Skill-Based Platform and Not an Exchange or Method for Purchasing Crypto.
No, BuyCrypt Is a Portfolio and Terminal Layer and Not a Wallet and Not an Exchange. It Draws Market Data from Exchanges and Uses a Simulated Balance to Conduct Tournaments.
No, Because the Terminal Holds the Information Rather than the Currency but Trades Are Processed by the Venue.
Yes, and the Execution Happens at the Venue, Not in the Interface Layer.
This Will Affect the Information of That Venue Only Although Your Consolidated View Will Remain Up.
Tournament Play Utilizes a Virtual Balance That Moves with Real Market Information, While Live Venue Play Involves Consolidation and Clarity Across Everything You Use. Why? They Operate with the Same Interface.
No Guarantee of a Profit, But This Terminal Has Been the Source of 48 Tournaments (54 a Week) and 127 Funded Accounts to Date, for $384,000 Worth of Payouts That Were Verified On-Chain.
